"A bill recently introduced in Congress would greatly expand the exemption to the Fair Labor Standards Act for IT employees, ending overtime benefits for many more types of workers, including network, database and security specialists." The Democrat senator of North-Carolina has introduced an even worse version of the bill, which specifically exempts database and network specialists and security professionals from overtime benefits. Say, isn't some company building a huge data centre in North-Carolina? I'm sure it's all a coincidence.

You can have a private real estate bubble alongside a social housing projects. The one does not exclude the other. This is what China is, a hybrid economy.
And no socialism still exist there. Millions of people live in subsided government flats there. Saw a documentary on it not long ago.